The Requirement That Consideration Be Bargained-For Means That

question 48

Multiple Choice

The requirement that consideration be bargained-for means that:

• A)The consideration in a contract must be exchanged simultaneously.
• B)The values of the consideration cannot be greatly different between parties.
• C)The inducement for each party to give consideration was the consideration of the other party.
• D)One party determines the consideration to be given by each party.

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Definitions:

Personally Liable

Being directly responsible for fulfilling a financial obligation or settling a debt from personal assets.

Stock Dividend

A dividend payment made to shareholders in the form of additional shares of stock, rather than cash.

Revoked

To take back, withdraw, or annul an offer, right, or privilege.

Investment Grade

A rating that indicates a low to moderate risk of default for bonds and other securities, suggesting they are a secure investment.